Simon Karuku

Nakuru, Kenya

100% repaid

Entrepreneur

Name

Simon Karuku

Member since

August 2013

On-time repayments

127 installments  •  13%

About Me

My name is Simon Ndirangu And I come from Nakuru Kenya. I am have been working as a teacher until recently when i resigned to work as a businessman full time. I currently deliver and sell airtime to retailers and in the process make a 2.5% profit. I am currently selling about 30000 worth of safaricom airtime. My challenges are my means of transport and the fact that i have only access to safaricom airtime. I would want to start selling other denominations hence increasing my sales, profits and also attracting more customers. I also intend to increase my safaricom stock and buy a motorbike for delivering my products

My Business

My airtime business rakes in about kes 750 per day. Minus the expenses such as transport to town and back, I am left with about kes 500. This translates to about 13000 per month. My customers prefer me to the competition since they know that I have worked as a teacher in a nearby school. They therefore know me and trust me more. The competition however have other varieties of airtime and so they sometimes sell in my territory. The loan I am taking will allow me to add at least one other variety of airtime hence making my business work better.

Loan Proposal

I sell airtime on wholesale basis and have been specialising on safaricom airtime only. The loan i am taking will help me to introduce another airtime denomination preferrably airtel airtime. This will make me more attractive to customers hence enabling my business to thrive. It will also increase my profits and enable me to grow my business faster. Thanks in advance

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.02

Date disbursed

Jan 6, 2014

Repayment status

On Time

Projected term

5 weeks

Cost to entrepreneur

Lender interest: $50.02 at 15.39% annual rate over 1 month = $0.74

Service fee: $0.17

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